Show Formulas
Manufacturing Overhead Budget |
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2020 | ||||
October | November | December | QUARTER | |
Units Produced | ||||
Variable Overhead Rate per Unit | ||||
Total Variable Overhead Cost | ||||
Fixed Overhead | ||||
TOTAL OVERHEAD COST | ||||
Noncash Overhead Expenses | ||||
TOTAL OVERHEAD DISBURSEMENTS |
Lexie's Wool Sweaters | ||||
Balance Sheet | ||||
As of September 30, 2020 | ||||
ASSETS | LIABILITIES & EQUITIES | |||
Cash | $ 150,000.00 | Accounts Payable | $ 14,500.00 | |
Accounts Receivable | $ 75,000.00 | Notes Payable | $ - | |
Raw Materials Inventory | $ 28,929.60 | Interest Payable | $ - | |
Finished Goods Inventory | $ 61,125.00 | TOTAL LIABILITIES | $ 14,500.00 | |
PP&E, net | $ 487,000.00 | Retained Earnings | $ 787,554.60 | |
TOTAL ASSETS | $ 802,054.60 | TOTAL LIABILITIES & EQUITY | $ 802,054.60 | |
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Show Formulas Manufacturing Overhead Budget 2020 October November December QUARTER Units Produced Variable Overhead Rate per...
Sales: Sales in Units (Masks) Selling Price per Mask JULY 222,000 7.75 AUGUST 290,000 SEPTEMBER 216,000 OCTOBER 165,000 NOVEMBER 197,000 $ Collections: Cash Collected in the Month of Sale Cash Collected in Following Month 70% 30% Finished Goods Inventory: Ending FG Inventory Requirement Beginning FG Inventory, July 1, 2020 20% of next month's unit sales 44,400 masks Raw Materials Inventory: Raw Materials Required per Mask Raw Materials Cost per Yard Ending RM Inventory Requirement Paid in Month of Purchase Paid...
wool Creations Inc, manufactures wool sweaters. Costs incurred in making 9,900 sweaters in October included $38,115 of fixed manufacturing overhead. The total absorption cost per sweater was $11.55. Required: a. Calculate the variable cost per sweater. (Round intermediate calculations and final answer to 2 decimal places.) Answer is complete and correct. Variable cost per sweater S 770 b. The ending inventory of sweaters was 1.600 units lower at the end of the month than at the beginning of the month....
Easy Question!!! Just find the formulas using numbers given on
the first three pictures. On the 4th picture just find out the
answers (showing work) per unit (for the quarter ending December
31st 2019) for the shaded boxes thank you so much, I will upvote
all answers!
e E F G 2019 2020 November December January February October Sales: Sales in Units (pies) Selling Price per Pie 71,000 64,000 32,000 36,000 56,000 $ 12.00 Collections: Cash Sales Collected in the...
each. The company uses a fore manufacturing overhead location rate of 55 per game. Assume al cos data are from Game Play's first two months in business during 2018 and production levels are exactly as planned. The Requirements Data Table 2.800 units Compute the product cost per game produced under absorption costing and under variable casting Prepare monthly income statements for October and November, including columns for each month and a column, using these costing methods absorption costing b. variable...
Christian, Inc. manufactures and sells fishing boats. In September 2020, Christian’s controller gathered the following data to prepare the October 2020 budget. Estimated Direct Materials needed is 11 feet of fiberglass per boat and 12 yards of sheet metal per boat The estimated Direct manufacturing labor required is 5 hours per boat Christian’s Controller expects to sell 3,400 boats during October 2020 at an estimated retail price of $650 per boat. Further, the Controller expects October 2020 beginning inventory of...
12. If we assume that there is no fixed manufacturing overhead
and the variable manufacturing overhead is $9 per direct
labor-hour, what is the estimated finished goods inventory balance
at the end of July?
13. If we assume that there is no fixed manufacturing overhead
and the variable manufacturing overhead is $9 per direct
labor-hour, what is the estimated cost of goods sold and gross
margin for July?
14. What is the estimated total selling and administrative
expense for July?...
the sequence is reversed
Manufacturing overhead (both variable and fixed) is allocated to each blanket on the basis of budgeted direct manufacturing labor-hours per blanket. The budgeted variable manufacturing overhead rate for March 2017 is $16 per direct manufacturing labor-hour. The budgeted fixed manufacturing overhead for March 2017 is $14,640. Both variable and fixed manufacturing overhead costs are allocated to each unit of finished goods. Data relating to finished goods inventory for March 2017 are as follows: Raiders Blanket Beginning...
Leno Manufacturing Company prepared the following factory overhead cost budget for the Press Department for October of the current year, during which it expected to require 16,000 hours of productive capacity in the department: Variable overhead cost: Indirect factory labor $145,600 Power and light 5,120 Indirect materials 44,800 Total variable overhead cost $195,520 Fixed overhead cost: Supervisory salaries $68,430 Depreciation of plant and equipment 43,010 Insurance and property taxes 27,370 Total fixed overhead cost 138,810 Total factory overhead cost $334,330...
Leno Manufacturing Company prepared the following factory overhead cost budget for the Press Department for October of the current year, during which it expected to require 12,000 hours of productive capacity in the department: Variable overhead cost: Indirect factory labor $86,400 4,320 Power and light Indirect materials 34,800 $125,520 Total variable overhead cost Fixed overhead cost: Supervisory salaries Depreciation of plant and equipment $43,930 27,610 17,570 Insurance and property taxes Total fixed overhead cost 89,110 Total factory overhead cost $214,630...
Requirement 1. Prepare the following budgets. a. Prepare the revenues budget. Revenues Budget For the Month of March Units Selling Price Total revenues Broncos Blankets 140 $ 305 Rams Blankets 195 378 Total b. Prepare the production budget in units. Production Budget For the Month of March Broncos Budgeted units sales Add target ending finished goods inventory Total required units Deduct beginning finished goods inventory Units of finished goods to be produced AN - Broncos c. Prepare the direct material...